How to Trade In Your Car When You Have Money On It!

[@lisabraun6036]

Useful video! Rather than using equity and inequity it would make more sense to say positive or negative equity. Inequity means “unfairness” and is an antonym to equity but not in the way you are using it.

[@kingznqueenztv]

😳

[@jennifermurthy6311]

This was SO helpful and particularly timely for me. My lease is up in two months, so I’ve been researching three-row SUV’s using your KZbin channel and this filled in the blanks for me for my next step: how to prepare going into a dealership. Thank you!!

[@nataliaguzman2874]

Traded in my 2017 Traverse for a 2021 traverse one week ago and man what a process! Wish this had posted a week and a half ago sooner but still … such good info !!!

[@gracemarie86able]

This was a fantastic video. Please more of this. Thanks!

[@meaghanchasse3845]

Would love too see your “short list” recommendations

[@shashnishchal1342]

Please do a review on a Tesla Model Y for a family? Can it replace a SUV

[@Ravedoll_210]

this was perfect and had all the missing info I needed to trade in my vehicle

[@cliffordsargento3807]

Extremely informative and great breakdown. Thank you!

[@pinkcandystripes]

We had to do this. Traded out BMW X1 (owed more than worth) for a new VW Atlas. Hated to do it because now we have a large car loan/payment but I found out I was expecting twins and there was no way we could keep the X1!

[@tato2493528]

this is the best explanation ive seen on YT

[@miami3863]

Have you ever explained in a video why it takes a full freakin Saturday (or any day) to buy a car? Love you channel!!

[@danielforkosh3618]

Would love to know this as well, or at least tips on making it as short and simple as possible. Love your channel too! :)

[@143sable]

I’ve always been a Saturday buyer, I work and that means I’d have to take time off to go during the week. And it is nuts that it literally takes that long! My guess is there’s more traffic. I went midday during the week this year and didn’t shut the dealership down. But that’s just my guessing game.

[@alyssacangemi9489]

Not just Saturdays, I’ve gone on a Wednesday at noon and it still took until closing!

[@danielforkosh3618]

@@alyssacangemi9489 same! There have been times when I was the only customer at the dealership, and they had me hang out all day going back and forth between the dealer and manager until a fair deal was reached for the car I actually came in to buy. I’d prefer to get coffee and snacks at lStarbucks, not a dealership :).

[@mariselarivas7068]

I wanna trade mine and have an equity of about 17 k at this time with market values but decided it's not worth it buying a newer one for the exact same reason. Haven't found a new suv to start with and prices are way over when I have. I'll keep it for now.

[@alycat9186]

This was SUUUUPER helpful!!!

[@jordanwashington4662]

Equity is value that you have above what you owe . INEQUITY IS WHEN YOU OWE MORE THAN WHAT ITS WORTH SO THAT IS INCORRECT

[@staceyackerson5197]

So much good information!!

[@tyrawilson7924]

I heard a lot of terms I’ve never heard before but I understand most of it 😂😅

[@Idkjustyet]

I have $5k of inequity :( I just want to refinance & get a cheaper car note 🤦🏽‍♀️

[@ttgautam21]

All I can say is 🙏🏼 thank u

[@professorschwartz2901]

Holy smokes - so helpful!! With selling used cars - what if one of the automatic seats isn’t working properly? Is that something to fix or not? TIA

[@XxsoonerbornxX]

Never ever ever ever roll an old loan into a new one. Ever.

[@DustyRhodes1986]

It wasn't spoke about in the video, but what about trade ins on cars that loan lien that was placed by a parent? My grandmother lent me money to buy a car and in the process we put her down as a lean holder on the title. I pay her every month for the car and still own a few thousand but I'm looking to trade it in, will a dealer pay off my grandmother to release the lien?

[@professorschwartz2901]

Another question - we have a lease expiring Feb 2022. Had planned to do lease to loan, but now wondering if that’s daft and whether we could get a better deal sooner somehow. We are over the mileage, which hasn’t mattered in the past when we’ve done lease to loan, but wondering if it would matter in this current market. Thanks for any info!!

[@tcaver]

What do you think about putting money down? Our credit scores 830 but I feel putting money down didn’t do much for our bmw x2 purchase 😢.

[@juliangarcia7793]

So I still owe money on my car but I want to trade in for cheaper car,,, am I able to?

[@jaimelin3960]

Can you get into a lease when you have inequity in your car?

[@priscillalittle2936]

My pay off is 74,000. My car is worth 42,000. Is there anyway I can get out of this? And by the way, my car note is 1151. Trying to get that lowered or in a cheaper car. Please help 😢

[@iAlwaysSpeakTheTruth]

What kind of car do you have?

[@priscillalittle2936]

@@iAlwaysSpeakTheTruth 2022 lexus is 350 sport

[@TheyCallMeRoam]

If I owe 4k on my car but KBB says it's worth 12k, should I go ahead and trade it in now or wait ?

[@iAlwaysSpeakTheTruth]

You have 8k of positive equity, to be used as a down payment or cash on your next car.

[@keytothegate68]

If the dealer told me you have 3 K equity in your car,to me that would be totally meaningless. If anything it would be an indication that your car actually has 6-10K equity - if you Don't give it to dealer, but rather sell it yourself hehe. Your call

[@generector8583]

Every dealer says it ok to create their own fees, so I have created a negotiation fee of $200 which I subtract from my cash offer. If they have no problems with making things up nor do I. Subaru Crosstrek new Base Model 2024 MSRP 25195 Destination 518 -Discount 1482.72 -Negotiation fee 200.00 + wv tax. 1,354.98 estimate Other. Description and price Title $15, fees Check Amt. 25,500.00 from bank my account no recalls so far